Well, if its Leninist prime minister-to-be can’t be reasoned with, the country might just find itself absentmindedly, accidentally outside of the Eurozone one day soon. By which they mean, they’ll put it in a position where it will be forced to print Monopoly-money drachmas because it won’t be sending those pretty euros to its banks […]

Bank of America Corp. reduced third-quarter profit by $400 million because of higher litigation expenses related to probes of the firm’s foreign-exchange business. The lender adjusted results for the three months ended Sept. 30 to a net loss of $232 million, or 4 cents a share, Charlotte, North Carolina-based Bank of America said today in […]

On CNBC Monday afternoon, as anchor Kelly Evans went to commercial, the song they used as an outro contained uncensored usage of the n-word. The song in question was B2K’s Fizzo Got Flow, and needless to say, it’s a pretty colorful song. It was a few segments later, towards the end of the hour, when […]

I enjoyed Bloomberg’s story about how the SEC was pestering JPMorgan to better disclose its proprietary trading activities well in advance of the London Whale fiasco. If you just read the headline you’d be all “oh look how prescient the SEC was,” but if you read the actual letters, not so much. Here is my […]

On February 11th Goldman issued four warrants tied to Japan’s Nikkei index which were described in three separate filings amounting to several hundred pages. Buried in the instructions to determine the settlement price was a formula that read “(Closing Level – Strike Level) x Index Currency Amount x Exchange Rate”. It is Goldman’s contention that […]

Last week, we reported that UBS had been kicked off the General Motors IPO as a result of a senior high-yield analyst sending out a note to a bunch of clients that included his musings on the valuation ahead of the IPO. In a filing today, GM confirms our story.

JPMorgan Chase last night alerted attorneys that employees in its foreclosure operations unit may have signed affidavits without personally reviewing the documents, the same issue that has recently plagued GMAC Mortgage, according to a memo obtained by HousingWire…Chase is requesting that the courts not enter judgments on pending foreclosure cases until it completes the review […]

Yesterday we mentioned that thespian, Level III CFA candidate and noted stock picker Shia LaBeouf had been talking up InterOil, an oil and natural gas exploration company. “IOC’s momentum is major, and it will surprise to the upside,” LaBeouf said in a text message to the GQ article’s author, Adam Sachs, who wrote about ShiLa’s […]

Alan Greenspan has written a book report that he will present at the Brookings Institution tomorrow. Some are calling it his “most detailed examination of the causes of the financial crisis.” Does he lay out his patented 3-Step Guide For Being Fed Chair (1. Talk like you know your shit, even when you don’t. 2. […]

GE CEO Jeffrey Immelt said today that while he did indeed have a discussion with Hank Paulson in September 2008, it had nothing to do with his irm’s commercial paper woes, as the former Treasury Secretary claims in his new book. Rather than get defensive about the whole thing, Hank, through his publicist, said that […]

It turns out tiny Middle Eastern emirates don’t need two stock exchanges. Especially when the second can only muster three listing. And even more so when that tiny emirate has very little to offer except creatively-shaped artificial islands with default notices looming. Nasdaq Dubai is set to be bought by the Dubai Financial Market for […]

Supposedly the FBI was tipped off that Galleon founder Raj Rajaratnam was conducting a little illegal biz by some traders who were none too happy with Raj-Raj, on account of being fired. Also, he apparently used to brag about his income to the now defunct Trader Monthly, which should be reason enough to lock him […]

The problem Wikileaks often runs into is how to present the material it’s been given and how to make it easier to sift through for vital information, said Assange. “At the moment, for example, we are sitting on 5GB from Bank of America, one of the executive’s hard drives,” he said. “Now how do we […]

Former Fairfield Greenwich employee Sherry Cohen on the Noels: Frontline: Did you like them? Cohen: I think that Walter and Monica are very, very likable people. I think that the next generation had supreme self-confidence, confidence that I kind of wish I would’ve had, except that it really got to be too much. They were […]

But it would be oh-so warm and fuzzy if they did. Why not, indeed. Reuters, do tell: …academics say an apology — for all the litigation risk it entails — can be the basis of revitalized confidence and trust. With global markets paralyzed by the inability to rely on a counterparty, and as trust and […]

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Oct 20, 2008 at 8:11 AM

SAC

Mary Jo White was the top federal prosecutor in New York City during Bill Bratton’s first run as the Big Apple’s top cop, and she learned a few lessons from his “broken windows” theory: Clean a place up a little, and throw the fucking book at the street urchins who are messing things up with […]